La-Z-Boy Reports Mixed Q1 Results Amid Decline in Joybird Sales

La-Z-Boy Inc reported Q1 fiscal 2026 total sales of $492 million, a 1% decrease YoY. Retail and Wholesale segments grew, while Joybird sales declined. The company achieved a GAAP operating margin of 4.5% and an adjusted operating margin of 4.8%, with diluted EPS of $0.44 GAAP and $0.47 adjusted. La-Z-Boy named #1 in the furniture category by Newsweek as one of America's Best Retailers in 2025.

La-Z-Boy Incorporated (NYSE: LZB), a leading global retailer and manufacturer of residential furniture, reported its fiscal 2026 first quarter results. The company reported total sales of $492 million, a 1% decrease year-over-year (YoY), driven by growth in the Retail and Wholesale segments, offset by declining sales in Joybird [1].

The Retail segment saw written sales increase by 5%, while delivered sales grew by 2%. The Wholesale segment delivered sales increased by 1%. The company achieved a GAAP operating margin of 4.5% and an adjusted operating margin of 4.8%, with diluted earnings per share (EPS) of $0.44 GAAP and $0.47 adjusted [1].

La-Z-Boy also reported a GAAP diluted EPS of $0.44 and an adjusted diluted EPS of $0.47, reflecting a 32% and 24% decrease YoY, respectively. The company generated $36 million in operating cash flow for the quarter [1].

Melinda D. Whittington, Board Chair, President, and Chief Executive Officer of La-Z-Boy Incorporated, commented, "We were pleased to deliver sales and margin growth in our Wholesale segment for the quarter, primarily driven by our core North America La-Z-Boy wholesale business. In addition, our Retail segment grew delivered sales and written sales for the quarter" [1].

The company also announced the acquisition of a 15-store network in the Southeast region, further highlighting its growth strategy. La-Z-Boy was recently named by Newsweek as one of America's Best Retailers in 2025, ranking #1 in the furniture category [1].

For the second quarter, La-Z-Boy expects fiscal sales to be in the range of $510-530 million and an adjusted operating margin of 4.5-6.0%, reflecting its continued investment in strategic growth pillars while navigating a challenging consumer and macroeconomic environment [1].

References:
[1] https://finance.yahoo.com/news/la-z-boy-incorporated-reports-201500813.html